Widely followed cryptocurrency analyst Michaël van de Poppe has expressed his views on some altcoins, including decentralized oracle platform Chainlink (LINK) and virtual reality platform Decentraland (MANA).
Van de Poppe says Chainlink is poised for a potential bounce after losing 86% of its value from its all-time high of $53.
“LINK is still experiencing a major correction since its all-time high in 2021. However, it looks like we will also experience an upside break. For this, it needs to break $7.50. If that breaks down, I think we’ll see $9 and potentially $10.”
At the time of writing, Chainlink was changing hands at $7.07.
Van de Poppe then studied MANA. According to the analyst, in order for a rally in MANA to trigger, it must take its first resistance at $1.12.
“Facing lower timeframe resistance near $1.12. If this breaks down and we reverse it (as the scenario gives), a long trigger towards $1.40 is activated. supports; $0.99 and $1.04.”
Decentraland is currently trading at $1.03.
The last cryptocurrency on the investor’s radar is THORChain (RUNE), a blockchain platform designed to facilitate the secure and inexpensive transfer of assets between different blockchains.
According to Van de Poppe, RUNE must stay above the $2.90 support for it to have a chance to rise to $3.28.
